Powell says Fed will likely cut rates cautiously given persistent inflation pressures ...Middle East

WASHINGTON (AP) — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next. Powell, in prepared remarks for a speech in Dallas, said that inflation is edging closer to the Fed’s 2% target, “but it is not there yet.” At the same time, he said, the economy is strong, and the Fed’s policymakers can take time to monitor the path of inflation. “The economy is not sending any signals that we need to be in a hurry to lower rates,” the Fed chair said. “The strength we are currently seeing in the econom

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Powell says Fed will likely cut rates cautiously given persistent inflation pressures ...Middle East

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